The text of the release said: Inflexion is pleased to announce that it has completed a Partnership Capital, minority investment, in CloserStill Media Ltd (CloserStill), the UK’s fastest growing international media and exhibitions business.
Founded in 2008 by the current Chairman and CEO, the business operates exhibitions throughout the UK, Europe and the Far East. Focused on the multi-billion pound healthcare and technology sectors, CloserStill has established its leading position by providing world-class content and attracting large, high value audiences. The global exhibitions market is one of the most important business-to-business marketing channels, valued at $28bn in 2013 and projected to grow at 5% p.a. over the next three years.
Inflexion’s Partnership Capital investment will support further organic growth in CloserStill’s young and vibrant exhibitions portfolio, capitalising on excellent renewal rates and high demand. It will also enable continued innovation through ‘geo-cloning’ successful events in other markets and facilitate targeted acquisitions. Inflexion’s own international reach, with portfolio support offices in overseas markets, made the firm the natural partner for CloserStill’s global ambitions.
Simon Turner, Managing Partner at Inflexion, commented “We have been tracking CloserStill for a number of years, attracted by a high growth, niche business with great fundamentals, excelling under the leadership of a best-in-class management team. It’s great that we could offer the right investment solution for CloserStill and look forward to partnering with the team to accelerate the international trajectory of their business.”
Andy Center, CEO of CloserStill, commented “Dave Whileman and the Inflexion team have been a class act from start to finish. Their Partnership Capital business is truly differentiated – it shows conviction and a deep understanding of what’s important to fast growing, dynamic, entrepreneurial businesses. Their commitment to us is entirely reciprocal and together we will continue to achieve great things and have fun doing it.”